Negotiation Strategy……Waiting??

I wrote a very good offer on a great house yesterday. I haven’t got a reply yet from the listing agent. See, it has been on the market for 4 days. They wanted to wait to see if any of the 3 showings they have today want to make an offer. I hate being in this position. If I push the listing agent, then she might not want to work with me if there are multiple offers. I decided to wait.

I try to think things though. Right now, the seller is feeling really confident with all the showings. If they counter right now, it would probably be for full price. If there is another offer today, I’ll be in the same place. So I wait.

One thing I have learned about real estate deals is how fast the balance of power in negotiations can change. One minute you are calling the shots, then something changes and you are at the mercy of the other side. That is why I always try to be cordial when I have the upper hand. Never burn a bridge that you might need to cross later.

One thing I thought of that this seller and agent didn’t…..the fact that I will have the upper hand if none of these 3 buyers want to make an offer today.

And that is another reason I chose to wait.

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